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Thread: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

  1. #51
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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by Grant View Post
    It isn't a scandal anymore, though it once would have been.

    It seems that a large segment of the American public has become accustomed to their tax dollars being used by their president as venture capital, despite his well known lack of experience in either business or management. Why this is so is difficult to say but it's definitely there.

    Of course, now that the precedent has been set and the people approve these wildcat investments, all presidents will feel they can use public money for their pet projects and will never have to face the consequences. Even if they are not re re-elected they and their associates will still be set for life.
    If people are used to it maybe it's because they already saw George W. Bush spend over $25 billion in support of hybrid vehicles and over $1 billion in support of hydrogen fuel cell businesses. Now I've gotta go gas up my fuel cells....

    Certainly Bush had a lot of experience in failed businesses.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by apdst View Post
    You gotta be kidding, right? Any company that can't realistically succeed shouldn't be gettng a government loan.

    "high reward"!
    Hindsight is 20/20, my friend. At the time the loan was approved, Solyndra was widely thought to be a promising venture. They cratered because the cost of competing technology (polysilicon) dropped 800% in a few short years. It was predictable that the price would fall, due to increased production, but I don't think anyone thought it would fall that far. As a consequence Solyndra lost it's competitive advantage.

    In other words, most people thought that Solyndra could realistically succeed. Unfortunately the government did not react fast enough to the changed outlook.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by AdamT View Post
    Hindsight is 20/20, my friend. At the time the loan was approved, Solyndra was widely thought to be a promising venture.
    Re-read the facts. They were not. The administration was told that they were a pretty crappy bet.

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by AdamT View Post
    Hindsight is 20/20, my friend. At the time the loan was approved, Solyndra was widely thought to be a promising venture. They cratered because the cost of competing technology (polysilicon) dropped 800% in a few short years. It was predictable that the price would fall, due to increased production, but I don't think anyone thought it would fall that far. As a consequence Solyndra lost it's competitive advantage.

    In other words, most people thought that Solyndra could realistically succeed. Unfortunately the government did not react fast enough to the changed outlook.
    So, what does the regime do? They invest in another turd just like Solyndra.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by EagleAye View Post
    Well, let's see. Halliburton could never have set up shop in Iraq if the American military didn't pacify Iraq first.
    So is it your contention that the Coalition countries invaded Iraq in order to create jobs and money for Haliburton? Didn't the left claim it was "all about oil"? Is this the most recent theory?

    Well, if that makes sense to you, I guess it's okay though I doubt you work on Wall Street.

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by AdamT View Post
    If people are used to it maybe it's because they already saw George W. Bush spend over $25 billion in support of hybrid vehicles and over $1 billion in support of hydrogen fuel cell businesses. Now I've gotta go gas up my fuel cells....

    Certainly Bush had a lot of experience in failed businesses.
    So because George Bush invested taxpayer dollars in ventures private investors wouldn't touch, Barrack Obama did it as well?

    I thought George Bush was the idiot and Barrack Obama the smart guy and yet poor BHO seems to be following all the Bush policies, and even building on them.

    If pointing to George Bush and saying "he did it too" is the best excuse you have for this lame duck President then you should vote for someone with more business experience in the next presidential election. Two idiots in a row is too much.

    So which successful businessman and administrator will it be? Mitt Romney or Herman Cain?
    Last edited by Grant; 11-01-11 at 06:27 PM.

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by AdamT View Post
    Hindsight is 20/20, my friend. At the time the loan was approved, Solyndra was widely thought to be a promising venture. They cratered because the cost of competing technology (polysilicon) dropped 800% in a few short years. It was predictable that the price would fall, due to increased production, but I don't think anyone thought it would fall that far. As a consequence Solyndra lost it's competitive advantage.

    In other words, most people thought that Solyndra could realistically succeed. Unfortunately the government did not react fast enough to the changed outlook.
    If most people thought Solyndra would succeed, which is not true at all btw, don't you think they could have raised private capital?

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by Grant View Post
    So because George Bush invested taxpayer dollars in ventures private investors wouldn't touch, Barrack Obama did it as well?

    I thought George Bush was the idiot and Barrack Obama the smart guy and yet poor BHO seems to be following all the Bush policies, and even building on them.

    If pointing to George Bush and saying "he did it too" is the best excuse you have for this lame duck President then you should vote for someone with more business experience in the next presidential election. Two idiots in a row is too much.

    So which successful businessman and administrator will it be? Mitt Romney or Herman Cain?
    Your contention was that Obama has inured the American people to wasteful investments. I was simply pointing out that Bush did the same thing ... times 10. But Bush wasn't the first, either. All Presidents in my lifetime have invested government funds in fledgling industries. Some have produced game changing results, and others have not.

    My point is that it is a good thing for our government to foster new and important technologies, even if all of the bets don't pay off. I applaud Bush for what he did. Fuel cells have come a long way and I thik they may in fact be the way of the future. Hybrid vehicle sales have grown immensely over the last 10 years.

    Businesses are generally short sighted. They often won't invest in new technology unless there is a pay off right around the corner. Government can take a longer view.
    Last edited by AdamT; 11-01-11 at 07:16 PM.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by AdamT View Post
    Businesses are generally short sighted.
    And yet you advocate giving them millions of taxpayers dollars.

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    Re: Another Energy Company Goes Bankrupt, $39 Million Borrowed From Taxpayers

    Quote Originally Posted by Grant View Post
    So is it your contention that the Coalition countries invaded Iraq in order to create jobs and money for Haliburton? Didn't the left claim it was "all about oil"? Is this the most recent theory?

    Well, if that makes sense to you, I guess it's okay though I doubt you work on Wall Street.
    You're right, I don't work on Wall Street.

    The Iraq war was about a LOT of things. I think Bush honestly believed WMDs were there (where lefties and I disagree). We were removing a destabilizing force from the ME. We were freeing the Iraqi people from a tyranny and introducing a democratic society. These things I truly believe in and I catch a lot of flack for it. So what. BUT there was the additional motivation of securing access to oil. This wasn't to "steal" the oil as many claim, but to insure that the US had access to pay for it, without being denied. Lastly, Bush's friends at Halliburton and other companies were granted access to lucrative contracts. Everybody wins...or so it was thought.

    So the oil companies and companies like Halliburton can thank the US Military and the American taxpayer for subsidizing their industries by removing a blockage to their expansion...absolutely free of charge.
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